Tuesday Morning Bitcoin Analysis

Bitcoin's movement last night was quite decisive. After a rapid push higher, it consolidated and oscillated at elevated levels. Driven by US stock sentiment and news catalysts, price surged to around 71,700 at one point, but lacked sufficient upward momentum and has since retreated to consolidate around 70,800-71,000.

Technical Structure Analysis:
The daily chart displayed volume-expansion bullish candlesticks and briefly broke through the mid-band, but faced significant selling pressure at higher levels with a long upper shadow, indicating insufficient continuation of the uptrend and a clear retracement character.
The 4-hour chart faced rejection at higher levels multiple times, with the upper band unable to break through effectively, and the Bollinger Band maintaining an overall downtrend formation with no fundamental trend reversal taking place.
This round of upswing is primarily driven by news factors rather than fundamental changes in the bearish structure, with the overall picture still dominated by bearish sentiment.

Trading Strategy: Maintain the bearish outlook. During early morning sessions, focus on shorting at the key resistance zone of 71,000-71,200, with stop losses placed above 71,700-71,800.
First target downside: 69,500-69,000 region;
Second target: around 68,000-67,500$BTC